Groundnut oil moved up by Rs 10 to Rs 590 per 10 kg on poor supplies and lack of ready stock. In Rajkot prices quoted firm at Rs 865/870 per 15 kg. Imported palm oil lifted further from Rs 378 to Rs 384 per 10 kg on renewed bulk covering coupled with news of bullish global advices. In the global market palm oil placed at $750 per tonne for nearby delivery while forward deliveries were quoted at $715/695 per tonne.

Castor oil finished Rs 2 up at Rs 547/549 per 10 kg on steady covering by shippers. Castorseed ready gained Rs 10 to Rs 2,524/2,530 per quintal amidst shortage of ready stock.

In the futures section castorseed December delivery advanced from Rs 1,931 to Rs 1,948 per quintal on steady bull buying. In Ahmedabad December delivery opened at Rs 2,035before settling at Rs 2,022 per quintal. In Gujarat castorseed ready delivery placed firm at Rs 480/485 per 20 kg. Castor oil quoted at Rs 540 per 10 kg.

Bullion gains

Both the precious metals extended gains on the bullion market here today. Standard gold shot up by Rs 70 to Rs 4,230 per 10 gm. Gold .22 carat gained by Rs 65 to Rs 3,915 per 10 gm. in sympathy. Prices of gold biscuit (116.50 gm.) hardened by Rs 700 to Rs 49,600 per piece. Seasonal demand continued while eased overseas supplies and bullish advices attributed to the rally, dealers said. Souther advices were encouraging. In the global market the yellow metal rose to $388.65 per ounce.

Silver .999 jumped up by Rs 105 to Rs 7,575 per kg. Silver .916 closed Rs 115 higher at Rs 7,465 per kg. Industrial and seasonal buying continued while higher Delhi and overseas advices kept offerings at a low ebb. In the global market the white metal crossed $5 mark at $5.03/5.04 per ounce.

Cotton bearish

Bearish trend forged further aheadon the cotton market following sustained selling pressure.

With the proximity of the marketing of the new crop the selling pressure has increased. Mill demand remained dull. This has resulted into the prices losing fresh ground.

In ready segment, price fell by Rs 20 to 25 a maund in Punjab zone cotton. Bengal deshi roller-ginned were placed at Rs 1480-1560, J-34 saw-ginned good average at Rs 1780-1825 and cart-seleced at Rs 1900-2000 spot.

In forward, new crop Bengal Deshi roller-ginned September price crashed by Rs 40 to 50 as Rajasthan were placed at Rs 1400-1410 and Haryana at Rs 1350-1355. Other positions shed Rs 20 to 25. Thus, October Punjab were down to Rs 1310-1330, Haryana to Rs 1290-1295 and Rajasthan to Rs 1310-1320. November delivery Haryana were placed at Rs 1240-1245 and Rajashtan at Rs 1270-1280.

J-34 saw-ginned good average, Punjab were on offer at Rs 1780-1800, Haryana at Rs 1740-1745 and Rajasthan at Rs 1735-1740. November, Haryana were placed at Rs 1710-1715 and Rajasthan at Rs1700-1710. Cart-selected November delivery Haryana were mentioned at Rs 1770-1780.Gujarat cottons were quietly steady. V-797 were placed at Rs 15,400-15,700 a candy.

Sugar subdued

A dull-to-subdued condition was in evidence on the sugar market as the volume of business remained at a low ebb.

M-30 were on offer at Rs 1435-1510 and S-30 at Rs 1400-1410 a quintal ex-godown. Ex-octroi checkpost, M-30 were placed at Rs 1405-1415 and S-30 at Rs 1380-1390.

In tenders, M-30 were indicated at Rs 1360-1370, down by Rs 5, while S-30 lost Rs 10 at Rs 1340-1350 in Kolhapur line on poor demand.Trading continued to be suspended in imported sugar.

Grains dull

A dull condition prevailed on the grains market. Prices ruled quietly steady.Wheat milling were quoted at Rs 660-665 a quintal. Wheat Saurashtra Lokvan were on offer at Rs 765-825, SW at Rs 900-1100 and north Gujarat at Rs 725-775. MP 147 and Sarbati were traded at Rs 750-850 and at Rs 900-1300 respectively.

Among imported pulses, green peasUSA ruled at Rs 1600-1650 and Canadian at Rs 1071-1081. White peas Canadian ready ruled at Rs 1150 and shipments at Rs 925. Australian gram found sellers at Rs 1250-1275.Yarn listless

A listless condition continued on the yarn market. The continued insistance on the part of trade for cash deals in the aftermath of payment crisis kept the volume of business at a very low ebb.

Polyester yarn grey first quality of medium-sized units 80dn rotoset were on offer at Rs 79-80, micro rotoset at Rs 100 and weft at Rs 76-77 a kg. 150dn weft and warp were placed at Rs 61 and 72 respectively. 150dn single rotoset ruled at Rs 65 and double rotoset at Rs 67.